Clearbridge Investments LLC Has $27.41 Million Holdings in Lennar Co. (NYSE:LEN)

Clearbridge Investments LLC increased its stake in shares of Lennar Co. (NYSE:LEN) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 201,009 shares of the construction company’s stock after purchasing an additional 4,795 shares during the quarter. Clearbridge Investments LLC’s holdings in Lennar were worth $27,412,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. boosted its position in Lennar by 22.0% in the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock valued at $446,110,000 after buying an additional 589,553 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Lennar by 21.4% in the fourth quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after acquiring an additional 397,492 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Lennar in the fourth quarter worth about $19,364,000. Y Intercept Hong Kong Ltd raised its holdings in Lennar by 2,774.5% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 123,142 shares of the construction company’s stock worth $16,793,000 after purchasing an additional 118,858 shares during the last quarter. Finally, Prana Capital Management LP lifted its position in Lennar by 68.6% during the 3rd quarter. Prana Capital Management LP now owns 288,661 shares of the construction company’s stock valued at $54,118,000 after purchasing an additional 117,430 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Trading Down 0.4 %

LEN opened at $114.37 on Wednesday. The firm’s fifty day simple moving average is $123.14 and its 200 day simple moving average is $149.97. The stock has a market capitalization of $30.37 billion, a P/E ratio of 7.98, a P/E/G ratio of 1.24 and a beta of 1.69. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. Lennar Co. has a 12 month low of $111.26 and a 12 month high of $187.61.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.44. The business had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. Lennar’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the company earned $2.57 earnings per share. As a group, research analysts anticipate that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.75%. The ex-dividend date was Wednesday, January 29th. Lennar’s payout ratio is 14.57%.

Analyst Ratings Changes

Several equities research analysts have recently commented on LEN shares. Royal Bank of Canada lowered their price target on shares of Lennar from $125.00 to $122.00 and set a “sector perform” rating for the company in a research report on Monday, March 24th. Wedbush reiterated a “neutral” rating and set a $158.00 target price on shares of Lennar in a research report on Monday, March 17th. StockNews.com lowered Lennar from a “hold” rating to a “sell” rating in a research report on Saturday. Citigroup dropped their price objective on Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, Evercore ISI restated an “in-line” rating and set a $131.00 target price (down previously from $159.00) on shares of Lennar in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $151.07.

About Lennar

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company’s homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties.